Government is calling for partnerships between local and foreign investors to set up generic drug manufacturing plants to improve drugs availability and create jobs.

Further, Government believes such investments will help generate foreign currency from the sale of generic drugs across the region.

This was said by Mr Godfrey Chanakira, the Permanent Secretary in Vice President Constantino Chiwenga's office, during the public health supply chain conference and exhibition in Harare on Tuesday.

"The Government of Zimbabwe advocates for improved availability of healthcare consumables and sustainable pricing structures of drugs," said Mr Chanakira.

"The TSP (Transitional Stabilisation Programme) acknowledges the technical and financial requirements in the sector, hence its call for new partnerships between domestic and foreign investors for setting up generic drug manufacturing plants in Zimbabwe in the course of this year.

"The joint venture partnerships envisaged are expected to benefit the country through technology transfer, among others."

He said such an approach results in value chain development, which comes with the creation of jobs for locals as well as generation of foreign currency through regional exports.

"In this regard, there are tremendous opportunities for the private sector to complement and partner the public sector towards the goal of achieving substantial improvements in drugs procurement efficiency and commodity availability.

"Although the private sector is often held up as a benchmark for efficiency for the public sector, this may be unfair as it ignores the unique challenges and constraints that public sector procuring entities often face such as greater public scrutiny and lengthy procurement procedures," said Mr Chanakira.

He said the National Health Strategy put in place by Government contains various programmes to direct and institutionalise stakeholder participation in the healthcare delivery system, maintain the momentum of private-public cooperation and create an enabling environment for those who want to come on board.

Mr Chanakira added that the key to any successful health system is the supply of medicines, the availability of essential commodities and equipment to enable testing, treatment, care and support.

"Nevertheless, within the public sector, procurement of health commodities requires more flexibility and responsiveness to change (in population health and in environmental conditions) than procurement of other products.

"Thus, ineffective procurement in public health institutions compromises the quality of national disease responses, interventions and programmes.

"Inadequate planning, forecasting and procurement methods often contribute to high commodity costs, long lead times, stock imbalances and overall, commodity insecurity," he said.

Foremost African financial institution, Guaranty Trust Bank plc has been named the Best Bank in Africa 2019 by Euromoney at its annual Awards for Excellence, which held in London on Wednesday, at the London Hilton Hotel, Park Lane.

GTBank was also named the Best Bank in Nigeria for a record ninth time, reflecting the Bank’s position as one of the best managed financial institutions in the country, with strong and focused leadership that keep the business in a constant state of re-invention and innovation.

Now in its 50th year, Euromoney is the leading publication for covering the growth of international finance. Euromoney’s Awards for Excellence are the awards that matter to the banks and bankers who matter.

This year, Euromoney received almost 1,500 submissions from banks in an awards programme that covers 20 global awards, more than 50 regional awards, and best bank awards in close to 100 countries. The Magazine’s Awards for Excellence celebrates the best banks around the world by recognizing institutions that have demonstrated leadership, innovation, and momentum in the markets they operate. In selecting its award recipients, Euromoney combines quantitative and qualitative data to honor institutions that have brought the highest levels of service, innovation and expertise to their customers.

Key to the emergence of GTBank as the Best Bank in Africa and the Best Bank in Nigeria, is the Bank’s digital drive and its clarity of vision in re-imagining the future of banks and banking. The Euromoney awards also recognized GTBank’s commitment to leading the future of banking as well as its consistent long-term strategy led by a senior management team that abhors complacency and keeps the business in a constant state of innovation.

Commenting on the Bank’s Euromoney awards, the Chief Executive Officer of GTBank, Segun Agbaje, said; “We are delighted and proud to win the Euromoney Awards for Africa’s Best Bank and Nigeria’s Best Bank. These awards reflect the progress we are making in delivering the best banking experience that captures what customers want in the world of today and tomorrow. They are also a testament to our leading role in driving world class corporate governance standards, excellent service quality and innovation in Africa’s banking industry.”

He further stated that; “At GTBank, we are passionate about building the bank of the future by leveraging the best of technology to add real value to our customers’ lives, and these awards illustrate the hard work and commitment of our staff, management and board towards achieving this goal.

‘GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation.”

The Economic and Financial Crime Commission, EFCC, on Thursday disclosed that stolen assets of African continent in Western world worth over $50b.

The Ibadan Zonal Head of EFCC, Friday Ebelo disclosed this at the 3rd African Anti-Corruption Day, themed, “Towards a Common African Position on Asset Recovering”, which was marked with a walk across Nigeria.

Ebelo, who led his team and other stakeholders, including the media, members of the National Orientation Agency, NOA, Federal Road Safety Corps, FRSC, War Against Indiscipline, WAR, Nigeria Security Defence Corps, NSDC, Nigeria Police and Trade Union Congress, TUC, said that the stolen assets covering money, artifacts and natural resources must be recovered and repatriated back to Africa.

He noted that it was immoral if the West could be preaching transparency in the running of the African continent and they did not abide by the same concept of transparency and accountability.

He said, “Today’s event is a match in support of the African position against corruption. It is about the repatriation from the West back to Africa of our stolen goods and commonwealth. Many things were stolen away from Africa to Europe, America and other countries of the world. So with this event, we are creating awareness to the world power where most of our money is being laundered and our assets are being tied down. According to a study done before now, over $50b worth of assets from Africa alone are stolen and tied down in the West and some other countries of the world”.

“Money, artifact and other things stolen from us are our heritage and they spread across the world. We must be consistent and persistent in demanding for our stolen assets because it is our right. I believe if we do not relent, one day the comity of nations will come together and say let us do the right things.”

The EFCC Scribe pointed out that Africa did not stand to gain anything from jailing fraudsters that stole the continent’s assets alone without recovering what they had stolen for the good of the people of the continent.

He said, “As regards money laundering and related offences, you will find out that if you remove the backers of those who are involved in this act, you have virtually taken everything out of him. The concept of jailing the person who steals from us is not enough. Efforts should be made to recover at least 80 percent of the assets he has stolen to empty the thief.

“The concept of recovering of repatriation, which entails arresting a financial criminal, sentencing him into imprisonment and tracing all the things he has stolen, is the best for us. So, this time, what we are doing is that we are tracing the stolen assets beyond the shore of this nation. If we discover what you have stolen abroad and you cannot prove their ownership, automatically, the property becomes the property of the government.”

The walk, which took place simultaneously across the country, saw the team in Ibadan trekking, amidst funfair, from Iyaganku through Dugbe and to the EFCC Ibadan Office.